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Gift tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2012 Dear All,
Can an individual gives gift to huf or vice-versa and the same is taxable or not?
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prasad

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prasad (Expert)
20 June 2012 Yes One can gift to his owm huf and vice versa, upto Rs.50000/= only.

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